Q&A Forum

Inventory Supplies Policy

I'm new to this forum and have a question about how those of you in manufacturing or other similar industries treat your inventory policy for materials and supplies. I'm relatively new to my company (small-mid level) and we seem to inventory things that cost only a few dollars and others that we expense that could cost hundreds of dollars on a per item basis. Is there a hard dollar amount for materials and supplies that you choose to inventory? Do you also look at how long an item may stay on the shelf before being used? Do you not even bother inventorying materials and supplies? Any feedback would be appreciated. Thanks!

Answers

Consumable Supplies Inventory Procedure. ... Consumable supplies are defined as stock items used and consumed in the daily operations of a UConn department, such as food, cleaning supplies, lab animals, perishables, table or bed linens, repair parts, small tools, small appliances, and articles of a similar nature.

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